Overview
DXC Assure Cede is a comprehensive, integrated reinsurance management solution that facilitates the entirety of outwards reinsurance processes for all contracts, proportional or non-proportional, placed on either a facultative or treaty basis. It supports life and non-life ceded reinsurance administration. It is adept at managing both simple and complex protection programs, including excess of loss claim recoveries, premium adjustment production, and proportional accounts.
Assure Cede interfaces seamlessly with any Policy Administration System (PAS) using standard data formats. This eliminates the need for the carrier’s PAS to process the complexities of reinsurance protections. Assure Cede takes the reins in calculating all financial transactions, including premium distributions and claim recoveries, based on conditions and classifications configured within the solution.
Assure Cede is available as a Software as a Service (SaaS) and on-premise solution, providing the flexibility and scalability to adapt to ycustomers business's evolving needs.
The solution is embedded in DXC's solution for Assmed/Retro reinsurance and deployed stand-alone for managing carrier's ceded reinsurance. It has a global footprint with +110 customers in +40 countries. The solution is known in the market under the product name "SICS and SICS Cede". DXC Assure Cede is the solution name coinciding with the SaaS solution modernization.
Key Features
DXC Assure Cede covers end to end ceded reinsurance requirements, supporting both life and non-life ceded reinsurance and supporting any market globally. Key features include:
1.Automated Reinsurance Handling: Assure Cede integrates with your primary application(s) to automate all reinsurance operations, saving time and reducing errors.
2.Complex Arrangement Support: The system can accommodate complex reinsurance arrangements, fully capturing terms and conditions to ensure compliance and risk mitigation.
3.Automatic Protection Allocation: Assure Cede has an automatic protection allocation facility, streamlining the distribution process.
4.Automatic Recovery Calculations: Fully supports automatic recovery calculations per event, improving the accuracy of your financial oversight.
5.Periodic Technical Accounts & Document Production: Capable of producing a wide range of documents, including periodic technical accounts, claims advice, cover notes, statements of account, and more, ensuring comprehensive documentation.
6.Premium Adjustments: It can calculate reinstatement and adjustment premiums, providing crucial support for financial operations.
7.Wide Recovery Calculations Support: Assure Cede supports "losses occurring," "risks attaching," and "claims made" recovery calculations, accommodating different recovery strategies.
8.ACORD Messaging Support: Developed with Swiss Re, Assure Cede supports ACORD technical and financial messages, facilitating efficient data interchange.
9.Full Traceability: The system provides full data and accounting transaction traceability, connecting your inward policies to outward actions.
10.Open Interface & Web Services: Assure Cede offers an open interface, allowing you to integrate with external systems, such as PAS and Workflow, with all functions exposed as Web Services.
11.Reinsurance Capacity Check: It can automatically check reinsurance capacity before underwriting risk in your primary system, ensuring sound risk management.
12.Comprehensive Business Intelligence solution
13.Task/Workflow Management
Assure Cede is available as a Software as a Service (SaaS) and on-premise solution, providing the flexibility and scalability to adapt to ycustomers business's evolving needs.
Key Benefits
Key benefits of DXC Assure Cede include automation (reduced manual labor), accurate calculation of payables and receivables, regulatory compliance, and standardized and accurate data readily available for making informed decision.
Extensive automation across many aspects of outwards reinsruance contracts, claims and associated accounting saves time and reduce operational costs, whilst also providing all the activity tracking and reporting necessary to meet regulatory requirements. The built-in workflow capability enables tailored business processes and approvals, and the integrated business intelligence suite provides accurate real-time information for analysis and better-informed decision making.
In addition to the main components of the solution itself, some of the main highlights in terms of features of DXC Assure Cede are as follows:
• Supporting all lines of business: Life and non-life, assumed, ceded and retrocession.
• Fully integrated: Complete end-to-end processing with single solution covering underwriting, accounting, claims, retrocession, task management etc.
• Globally standardized: All customers use the same software and upgrade path. All development and improvements become accessible to all clients.
• Highly configurable: Rich configuration options allow tailoring the solution to regional and client specific requirements
• Quarterly agile releases: Continuous evolution with approx. 150 product enhancements each year.
• Flexible deployment: Support on-premises, private/public cloud deployment; self-managed or SaaS managed by DXC
• Extensive reporting capabilities: Licensed and packaged with SAP Business Intelligence Enterprise fully integrated
• Strong market alignment: DXC evolves the solution in close collaboration with our strong and loyal client base to satisfy regulatory, market, regional requirements, etc.
• Modern, open architecture: 250+ API’s covering all aspects of reinsurance processing, allowing complete integration with external customer ecosystems
• Experienced delivery team: Proven, standard implementation methodology based on 100+ solution deployments, using our own DXC resources.
• Unrivaled migration capability: Decades of successful large-scale, global data migration projects using bespoke DXC tools.